New home sales beat estimates

 **New Home Sales Rise, While Existing Home Sales Hit Record Lows: Insights for the Los Angeles Housing Market** In September, new home sales in the U.S. hit a seasonally adjusted annual rate of 738,000—up 4.1% from August and 6.3% higher than last year. Meanwhile, existing home sales nationwide dropped to a 14-year low, creating a clear divergence between the two markets. **Impact on the Los Angeles Market** For buyers in the Los Angeles real estate market, new homes are offering better value due to builder incentives and flexible financing. With 258,000 homes under construction, there’s around 4.2 months of supply nationwide, meaning that new builds provide a competitive edge over existing homes. In contrast, the high mortgage rates affecting existing homes are keeping inventory low and limiting buyer opportunities. **Why New Homes Have the Advantage** The ability of homebuilders to offer attractive incentives, like rate buydowns and customization, has made new homes more appealing in the current market. Buyers in Los Angeles looking for flexibility should keep an eye on new developments, as existing home sales may continue to lag until mortgage rates decrease. **Los Angeles Market Outlook** With a growing inventory of new homes and a steady demand, the Los Angeles housing market is likely to see continued growth in the new home sector. For buyers looking to capitalize on value and incentives, new homes provide an optimal choice. However, unless mortgage rates drop, the gap between new and existing home sales is expected to persist into 2025. Contact Westside Los Angeles Luxury Real Estate Broker Abdo Pierre Faissal at Nourmand & Associates for more information 310-620-1038 / [email protected] facebook-letter-logo x-logo linkedin-logo pinterest-logo [Facebook](https://www.facebook.com/sharer.php?u=https%3A%2F%2Fapfreg.com%2Fnew-home-sales-beat-estimates%2F) [X](https://x.com/intent/post?url=https%3A%2F%2Fapfreg.com%2Fnew-home-sales-beat-estimates%2F&text=New+home+sales+beat+estimates) [Pinterest](https://pinterest.com/pin/create/link/?url=https%3A%2F%2Fapfreg.com%2Fnew-home-sales-beat-estimates%2F) [LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fapfreg.com%2Fnew-home-sales-beat-estimates%2F&title=New+home+sales+beat+estimates&summary=New+Home+Sales+Rise%2C+While+Existing+Home+Sales+Hit+Record+Lows%3A+Insights+for+the+Los+Angeles+Housing+Market+In+September%2C+new+home+sales+in+the+U.S.+hit+a+seasonally+adjusted+annual+rate+of+738%2C000%E2%80%94up+4.1%25+from+August+and+6.3%25+higher+than+last+year.+Meanwhile%2C+existing+home+sales+nationwide+dropped+to+a+14-year+low%2C+creating+a+%5B%E2%80%A6%5D)